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BHP plans to launch further subordinated note repurchase plan
StockMarketWire.com
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Mining giant BHP said it had approved a further plan to repurchase any and all remaining US dollar and euro subordinated notes that were issued in 2015 as it sought to reduce its debt.
'The multi-currency plan aims to further reduce the group's gross debt balance, reduce associated interest costs and enhance the group's capital structure by allocating surplus cash towards payment of the notes pursuant to the offers,' the company said.
A substantial repurchase event shall be triggered in the US dollar notes with the purchase of a further US$295,768,000, equivalent to 39.7% of the outstanding principal amount, and in the euro notes with the purchase of a further €564,733,000, equivalent to 79.0% of the outstanding principal amount of the notes, the company said.
At 9:04am: (LON:BHP) Bhp Group PLC share price was -16.4p at 1618.6p
Story provided by StockMarketWire.com
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